Lifestyle Protection Insurance breathing space  

Lifestyle protection insurance has many features including mortgage protection insurance. In an effort to provide help for mortgage holders after losing their jobs the Government has extended the Support for Mortgage Interest (SMI) scheme designed to enable mortgage holders to reduce the mortgage payments for 24 months to help them through that difficult period. Reports state that SMI is available only to those already in receipt of means tested Government benefits and the qualifying period is 13 weeks.

Clearly not all mortgage holders who become unemployed will qualify for SMI so please seek advice from the JobCentre Plus. If you feel you would not qualify for SMI or could not wait for the 13 week qualifying period or wish to avoid building up mortgage interest debt for the future then the mortgage payment protection insurance (MPPI) option within this cover can provide you with the valuable breathing space you need to keep the roof over your head in the event of unemployment.